Unit 10 Performance Criteria - Fraud

Pinkjo

I am in the planning stage of my unit 10 project (arrgh!) My project is going to be based on improving the budget planning and control, and I am really struggling to come up with potential areas of fraud (I work for a small company - I "do" the accounts and report to the MD, so in effect I set the budgets with MD's approval - how could that be fraudulent?)

Andypandy

I was looking at the fraud issue from the perspective of getting ripped off by suppliers through not checking & querying invoices enough - not internal fraud! (scooters off to find out if I've got things wrapped around my neck again......).

anniem

If your budget figures suggest that there are new customers, you could investigate your credit checking and trade reference take up to ensure that they are bona fide clients, not people out to fraudulently obtain your products or services without paying!

Just a thought?

Anna ;-)

hixie

It may be worth going into how the likelyhood of fraud may increase if you were to employ further staff. What fraud could then occur, i.e. fictitious suppliers - are there checks in place for new supplier set-ups?, controls would need to be higher if there were new/more employees.

Hope this helps!